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4 Answers
4

等等 is the official and only globally recognized way to read ellipsis in Chinese, unlike in English there are more than one (et cetera, and so on, and so forth, etc.)

In casual occasions you can also say 等 for short. In formal speeches like news broadcast it's always 等等. (Note I am talking about the pronunciation of ellipsis; I am not saying single 等 or other alternatives are grammatically incorrect or cannot be used in formal conversations.)

It depends on the situation. Normally reading, you're right. But if you're reading a text for someone else to write (e.g. teacher and students) then yes, you pronounce punctuation. And each of them has a name. The OP is asking how to pronounce the 3 dots used for elipsis or "suspension". By the way, you should expand on your answer because right now it looks more like a comment than an answer.
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Alenanno♦Jan 24 '13 at 9:42